Virtual reality revolutionizing real estate for homebuyers

byChase ConnerJanuary 11, 2018

Virtual reality is the next revolutionary topic for 2018 in the world of real estate, Coldwell Banker found in a recent survey of 3,000 homebuyers. The new survey, conducted by Harris Poll, showed the desire for VR home tours, with 77 percent of respondents saying they would love to be able to take VR house tours before actually visiting prospective homes. Eighty-four percent responded that they would love to be able to see video footage of prospective homes before visiting, displaying that the desire for VR house tours is almost on par with traditional video tours.

The study also showed that 62 percent of respondents said they would be more likely to choose a real estate agent who offered VR home tours. Consumers are now expecting high-tech experiences before even stepping foot in a prospective listing.

Technology continues to innovate the process of homebuying by making things simpler, smarter and faster, and homebuyers are ready for a resource that will help them visualize what is normally left to the imagination before physically seeing at home. VR is just the beginning when it comes to smart technology and real estate, with 32 percent of respondents saying they have smart-home products in their homes, up from 24 percent in 2016, revealing a 33 percent year-over-year increase.

“It’s crucial that the real estate industry stays on the cutting edge of technology,” said David Marine, senior vice president of marketing of Coldwell Banker. “From virtual reality to smart-home tech, consumers are now interacting with these technologies in different capacities and expect the same when working with a real estate professional.”